Boom in new student housing may have hit its peak

A chunk of the city’s construction this year comes from projects near the University of Minnesota—a product of the ongoing student housing boom that is being watched with bated breath.

Developers have targeted properties near campus in recent years. So far in 2014, the city has approved at least $118 million in building permits for new student housing—a significant portion of Minneapolis’ total value—but some developers say construction in the area might slow down in the future.

Daniel Oberpriller, owner and president of CPM Companies, said while he expects the company to add 2,000 beds to the University area next year, he does not expect any developers to propose new, large projects for the student housing market in the future.